Eric Sprott: Bail Ins, Physical Demand for Gold and Silver: Video

Eric Sprott: Bail-Ins, Physical Demand for Gold and Silver

Eric Sprott: Bail-Ins, Physical Demand for Gold and Silver

In this video Greg Hunter of USA Watchdog interviews Eric Sprott the President and CEO of Sprott Asset Management. Eric says extreme physical demand for gold and silver is draining supplies. Eric talks about Bail-Ins. At first it was only Cyprus but now it has become a template for other governments around the world. In a bail in the bank depositors are now considered creditors so when a bank fails the bank, instead of looking to shareholders, bank management, or governments to bail them out they look to internal sources.

I don’ think anyone that deposits money in a bank considers that their deposit might be seized to satisfy banks debts. Most people, when they deposit money in the bank, feel that is the safest place for it but the bail-in concept as used in Cyyprus and the Cyprus bail-in model being used as a template by governments around the world no longer make that certain.

From financecareers.com’s definition page on bail-in:

Bank Depositors Tapped in Cyprus

“Bank Depositors Tapped in Cyprus: Few, if any, critics of bank bailouts recognize the logical conclusion of their stance, that depositors will have to suffer part, if not all, of the losses. The financial markets were roiled in mid-March 2013 by a proposed bailout of banks in Cyprus that actually was structured largely as a bail-in funded by depositors.Click Here to Read Full Story – Bail-In. (Bolding mine for emphasis)

From the Huffington Post:

“Rather than reining in the massive and risky derivatives casino, the new rules prioritize the payment of banks’ derivatives obligations to each other, ahead of everyone else. That includes not only depositors, public and private, but the pension funds that are the target market for the latest bail-in play, called “bail-inable” bonds.

“Bail in” has been sold as avoiding future government bailouts and eliminating too big to fail (TBTF). But it actually institutionalizes TBTF, since the big banks are kept in business by expropriating the funds of their creditors.

It is a neat solution for bankers and politicians, who don’t want to have to deal with another messy banking crisis and are happy to see it disposed of by statute. But a bail-in could have worse consequences than a bailout for the public. If your taxes go up, you will probably still be able to pay the bills. If your bank account or pension gets wiped out, you could wind up in the street or sharing food with your pets.” Click Here to Read Full Story- Bail-In Huffington Post. (Bolding of sections in this quote are mine for emphasis.)

Eric says, “that when it becomes apparent to people that having deposits in a bank is a risk that will have a dramatic effect on the precious metals.”

In the US FDIC deposit insurance fund is now up to 33 billion insuring 10.8 Trillion dollars of risk. That’s like having $33 insuring 10,800 of risk. No insurance commissioner anywhere would approve that

The FDIC cannot support all of the liabilities they have.

Eric says that the physical demand is unbelievable and that we have much, much better days ahead for the precious metals.

Sprott predicts, “Somebody’s going to fail here. All the data I look at says the Western central banks . . . that have been selling gold are running on fumes now . . . so, it’s very close at hand.” Join Greg Hunter or USAWatchdog.com as he goes One-on-One with money manager Eric Sprott of Sprott Asset Management.
Video Rating: 4 / 5

16 thoughts on “Eric Sprott: Bail Ins, Physical Demand for Gold and Silver: Video”

  1. I lived through depression of Chile’s economy my whole childhood which
    motivated me to study Eco/Math. In my humble opinion I can say that the US
    system is set for collapse/crash. Countries around the world have been
    preparing for this event from early 70’s, only thing is the entire world
    will be affected, however the US will take the greatest damage. Rough times
    ahead.

  2. ConfusedCanuck12

    Harper will do as he’s told by his betters, the ubiquitous worm has his
    head so far up America’s ass he can tell us what B.O. had for breakfast. He
    admitted that if he was P.M. during the Iraq war he would have dragged us
    into that mess.

  3. WHAT IF GOD IS REAL? WHAT IF HIS EDEN WAS REAL? WHAT IF SOME AVERAGE PERSON
    WHO USES GOOGLE EARTH ONE DAY FINDS SOMETHING INCREDIBLE CONCERNING GOD AND
    EDEN? WHAT IF IT WHERE STORIES MADE OUT OF WATERMARKS? WHAT IF THEY WERE
    JOINED TOGETHER TELLING GOD’S STORY? WHAT IF THEY SHOWED HIS IMAGE? PLEASE
    COME SEE WHAT I FOUND. I’M BEGGING YOU WITH ALL MY HEART AND SOUL TO COME
    SEE WHAT I FOUND. IT CONCERNS EACH AND EVERYONE OF YOU. PLEASE PLEASE COME
    SEE. PLEASE.

  4. I am having trouble playing this video. It starts and stops. Only this
    video. And on your site, Greg, I am not able to receive sound. I appreciate
    all you bring to our awareness.

  5. there is no free market supporter or not, there is people who want to use
    force to get their ideas implemented vs people who believe they should have
    to voluntarily provide it and sell it in the market place

  6. Greg .. appreciate your work .. I am spreading the word about USA Watchdog
    as far and wide as I can.. live long and prosper. My dad has been buying
    gold since . the 50s and silver even before that .. he collects currencies
    too .- he hung onto it till recently when he started passing it out to the
    us to ‘hang on to.’ Some of us did – some did not. Talked to him on
    father’s day and he said . .do not sell your gold or silver you will regret
    it if you do. good advice from dad. He likes your videos

  7. If you’ve hung on to PSLV this long, don’t sell when it gets back to 50% of
    original value. I’ve been buying silver since it was $21 years ago & have
    been “cost averaging” small monthly purchases since then. So I’ve seen it
    go up to ~50% & back down again. But that’s pretty common for volatile
    silver & the banksters are manipulating it recently. I bought A LOT more
    silver when it came back down to ~$21 again. Be patient. Do you trust paper
    US Dollars & the banks?

  8. I ordered and paid for silver in late april and my shipment (a measly 50
    ozs) has been delayed twice. There is a shortage and possibly price
    manipulation in my opinion. Maybe the end of july.

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